DXYBearish long day (confirmed bearish harami). Midpoint below EMA(10). Made a new 0.0% retrace (74.27). Below all SMA's. Daily 3LB reversal down (reversal is 75.50).

VIXBullish long day (after huge gap lower & still closed lower). Midpoint below EMA(10). Still below all SMA's. New low on daily 3LB (reversal is 16.59). Deep in the "no fear" zone.

GOLDSpinning top day. Midpoint above EMA(10). Made a new 0.0% retrace. Still above all SMA's. New high on daily 3LB (reversal is 1486.00). Holding above upper trend line. Must have the precious.

EURUSDBullish long day (confirmed bullish piercing). Midpoint above EMA(10). Back above 1.4374 (the 76.4% retrace). Back above all SMA's. Daily 3LB reversal up (reversal is 1.4215).

JNKSpinning top day. Midpoint above EMA(10). Back above all SMA's. Back above its 76.4% retrace (40.50). Tested and failed its 85.4% retrace (40.60). Still below lower trend line. New high on daily 3LB (reversal is 40.21).

10YR YIELDDragonfly doji day (refused to go higher). No test of 0.0% retrace at 37.44. Still below all SMA's. Midpoint below EMA(10). Tested and held 38.2% retrace (33.71). Held the upper trend line. No daily 3LB changes (reversal is 34.66).

SILVERBullish long day. Still above all SMA's. Midpoint above EMA(10). Made a new 0.0% retrace. Holding upper trend line. New high on daily 3LB (reversal is 42.58). Almost time to start hiding the silverware.

22
comments:

Leftback
said...

Time is not on my side today, and nor is my brain. I promise to post some thoughts on bonds when I get my head together. For the time being, I am long 5s, 10s, and 30s, but not very long, and my outlook is neutral for now.

For the time being, the action in EURUSD is making it extremely difficult for me to think straight. Not that I was killed today, but it's just not making a whole lot of sense to me at the moment.

So at most logical... It seems the 'set-up' might end up similar to the Feb-March price action (last time it faced backwardation)...

Mind you... There were MULTIPLE 'attacks' on that during that time period (all ended in failure)...

But that is VERY SIMILAR to what I'd posted this morning when I said I'd expect to start seeing some WICKED price swings as it approaches $50 9which I still think it will hit (probably around the May 1 holiday timeframe)...

Remember back in Feb-March, they went as far as to fast track JPM to being a vault...

They certainly must be getting tired of paying "cash premiums" in lieu of failure to deliver...

And I'm SURE the 3 tons of stuff in cruise missles that the Nobel Peace Prize winning teleprompter in chief blew to smithereens by sending 120 cruise missles into Libya...

Which goes to say...

"You can't eat it... but you can BLOW IT UP"! :-)

In about a decade or so... Our primary military weapon might be the big pyrotechnic bonfire that we can TERRORIZE other countries (made out of our shredded dollar bills)...

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